Learning to manage finances is a challenge for all young people, especially for those who are in or have emerged from foster care. The Opportunity Passport™ program provides financial opportunities, support, and connections for youth ages 18+ who have experienced foster care and are currently working or in school receiving an income.
Opportunity Passport™ is a multi-year matched savings program. Upon enrolling in Opportunity Passport™, participants will complete financial literacy training courses alongside their peers. Foster Success offers these courses periodically throughout the year and will update this website when registration opens.
Financial literacy training courses will cover a variety of financial topics including:
- Financial Values & Beliefs
- Credit and Loans
- Debt Management
- Income and Taxes
- Saving and Investing
- Identity Protection
Upon completion of financial literacy training, participants will receive $100 to kick start their savings. Once a participant has saved enough money to purchase an approved asset, they can request up to $3,500 in matched funds from Foster Success.
Young people engaged in Opportunity Passport™ gain financial education, experience, and capability and are empowered to reach their own financial goals.
Upcoming Opportunity Passport™ Events
No Events on The List at This Time
Since 2009, Foster Success has grown assets in excess of $320,000 in foster youth savings through Opportunity Passport™.
FAQs about Opportunity Passport™
Opportunity Passport™ is open to current and former foster youth ages 18-25 who demonstrate maturity and interest in furthering their savings and financial well-being. Participants must:
- Be between 18 and 25 and have spent at least 1 day in foster care at or after the age of 14
- Have a basic understanding of financial literacy
- Be currently employed, in qualified training, or be in school receiving an income (ETV is considered income)
- Have a personal bank account open before training begins
- Be ready to start saving and investing in their financial future
Trainings vary and are a result of program space and funding. Foster Success will inform DCS and the others when a training is being planned and will send out an online referral form for completion. Space is limited in the trainings.
Foster Success maintains an active group of participants. Space becomes available as participants age out of the program. When space is available, Foster Success will host an orientation event and open the referral link (for providers) and application link (for youth after conducting a screening call). We will post the referral link on our website and email it out to DCS and OYS providers.
Foster Success will contact potential participants to make sure they are ready for training and may reach out to you for assistance in contacting youth you have referred. We will inform you of their acceptance into the training.
DCS and other staff may assist with transportation to in-person trainings and helping ensure participants are able to attend virtual trainings. Participants may need your assistance in obtaining a bank account if they do not already have one.
Once training is over and the participants are officially enrolled into Opportunity Passport™, we ask DCS and others to assist Foster Success in providing updated placement, address, phone number, and email information for youth. Opportunity Passport™ participants are contacted twice a year until their 26th birthday to complete incentive surveys.
Sure! Once participants have completed training and taken their initial survey, they are eligible to request up to $3,500 in matched savings for approved assets. As long as youth take their survey EVERY April and October, they are eligible to make requests until their 26th birthday. The $3,500 is a lifetime match amount and can be broken into smaller amounts across multiple years, i.e. a participant can match for $3,000 for a car and later match $500 for first month’s rent at a new apartment – so long as they stay up to date on their surveys and their request is approved.
Foster Success provides 1-1 matching, meaning youth must contribute at least half of the asset cost using their own funds. Typical purchases include vehicles, first month’s rent, down payments on housing, medical expenses (including braces), educational expenses, investment purchases, and others upon individual requests.